Singapore morning news for May 23

Singapore morning news for May 23

Singapore morning newsHow US-China trade war will hit Singapore
Singapore companies started feeling the effects of the trade war when it began last year as demand from China fell.
— Straits Times (annoying popups)

Govt slashes 2019 GDP forecast as economy grows at a slower pace than expected
The Ministry of Trade and Industry (MTI) announced yesterday (21 May) that it has narrowed its annual gross domestic product (GDP) growth forecast range given official data that showed that the economy is growing at a slower pace in the first three months of 2019, than what was expected. In a press …
— The Independent

Singapore-based Australian paedophile filmed himself sexually abusing dozens of children: Report
An Australian man who was based in Singapore pleaded guilty in a Melbourne court on Tuesday (May 21) to sexually abusing dozens of children over a period of 16 years, filming the acts and distributing the pictures and videos.
— Channel NewsAsia (very annoying popups)

S$33m missing from JLC law firm; lawyer uncontactable
IN what could be a record sum involved in such cases, some S$33 million has gone missing from the clients’ account of boutique law firm JLC Advisors, where a senior lawyer has at the same time become uncontactable.
— The Business Times

Law Society intervenes in legal firm’s client account
Concerns that a lawyer at JLC Advisors may have been dishonest have prompted the Law Society to urge other law practices to send in details about any of their clients’ money that JLC may be holding.
— Straits Times (annoying popups)

Study finds older singles need $1,379 per month
For the first time, researchers in Singapore gathered people aged 55 and above to talk about what they considered to be their basic standard of living, and calculated that a single man or woman aged 65 and above would need at least $1,379 a month to sustain it.
— Straits Times (annoying popups)

Watchdog begins public consultation on data law changes
The Republic’s privacy watchdog has started a public consultation to seek views on proposals to introduce data portability and data innovation provisions in the Personal Data Protection Act (PDPA), as part of an ongoing review of the laws.
— Straits Times (annoying popups)

Hsien Yang puts up $20k deposit for activist’s court appeal
Mr Lee Hsien Yang, the brother of Prime Minister Lee Hsien Loong, has put up $20,000 as a security deposit for activist Jolovan Wham to appeal against his contempt of court conviction.
— Straits Times (annoying popups)

Quicker enforcement action for some data breach offenders: Singapore privacy watchdog
Quicker enforcement action could be taken against some companies that breach the Personal Data Protection Act (PDPA), Singapore’s data privacy watchdog announced on Wednesday (May 22).
— Channel NewsAsia (very annoying popups)

Thousands affected in second M1 fibre broadband disruption in the past two days
Thousands of M1 customers appear to have been affected in this morning’s fibre broadband disruption. The service disruption today (22 May) is the second such incident in the past two days, after a fibre cable outage involving fibre operator Netlink Trust occurred yesterday (21 May). Several …
— The Independent

HDB launches more than 6,700 flats
Would-be home buyers keen to live near the city have been given a second shot at balloting for a new flat in Kallang/Whampoa.
— Straits Times (annoying popups)

59 at two welfare homes hit by food poisoning
The authorities are investigating two welfare homes after 59 people fell ill from eating food prepared in their kitchen.
— Straits Times (annoying popups)

CapitaLand tops region with $78b in real estate assets
May 23, 2019 5:00 AMLocal developer CapitaLand has the biggest real estate assets under management in the Asia-Pacific, a region that is becoming a major force in the sector.
— Straits Times (annoying popups)

3 Singapore Shares to Buy Should the US-China Trade War Escalate
iFAST Corporation Ltd (SGX: AIY), Straco Corporation Ltd (SGX: S85), and DBS Group Holdings Ltd (SGX: D05) are shares to consider if the stock market crashes.
— The Motley Fool

AUM up 12% for top 5 Singapore property funds targeting Asia-Pac
THE top five Singapore real estate fund managers recorded US$141.4 billion in assets under management (AUM) dedicated for Asia-Pacific (APAC) strategies in 2018, 12.22 per cent higher than the US$126 billion recorded in 2017.
— The Business Times

40% university cohort rate: Should it be raised in future?
This month, school leavers who had applied for a place in the local universities will be informed of the outcome.
— Straits Times (annoying popups)

Married man jailed over illegal wedding in Vegas
A married businessman has been jailed for a month after he unlawfully wed in Las Vegas another woman who is more than 30 years younger.
— Straits Times (annoying popups)

Environment role-play game on a floating S’pore clinches top prize
The year is 2100 and rising sea levels have forced Singaporeans to live atop a floating city.
— Straits Times (annoying popups)

Local researchers working on cure for severe liver disease
A team of researchers is one step closer to developing a remedy for a severe form of non-alcoholic fatty liver disease that is currently untreatable.
— Straits Times (annoying popups)

Temasek-linked Astrea V aims to raise $827m via bond issue
Yield-hungry retail investors can look forward to a new bond issue by Temasek-linked private equity vehicle Astrea V.
— Straits Times (annoying popups)

GIC among final bidders for Anbang portfolio of 15 hotels
Singapore’s sovereign wealth fund GIC and US private equity giant Blackstone Group were among bidders for a portfolio of 15 hotels owned by Anbang Insurance Group, the Financial Times (FT) reported yesterday, citing unnamed sources.
— Straits Times (annoying popups)

LTA sells $1.4b bond, its second mega deal in 2019
The Land Transport Authority (LTA) has sold a $1.4 billion 35-year bond, its second major deal this year. The latest issue carries a 3.3 per cent coupon.
— Straits Times (annoying popups)

Foreman gets 9-week jail sentence, company is fined $210,000 for accident that paralysed a worker
SINGAPORE- A construction foreman was sentenced to nine weeks’ jail and his employer fined $210,000 for a workplace accident that caused a worker to be wheelchair-bound for life.
— Straits Times (annoying popups)

New S’pore app allows renting of camera equipment & game consoles for cheap
The feeling of having one for a fraction of the price.
— Mothership

Singapore beauty firm confirms it employed Australian paedophile, revelation of crimes a ‘big shock’
Esthemedica marketing manager Hoong Cheong Hon says the company had a business call to Boris Kunsevitsky as recently as last Friday.
— Channel NewsAsia (very annoying popups)

PAP has started selecting candidates and begun work on its manifesto for the next General Election
More details about the ruling People’s Action Party’s (PAP) preparations for the next General Election (GE) have emerged, after Deputy Prime Minister (DPM) and presumptive future head of Government Heng Swee Keat confirmed in a recent interview that his party has started selecting …
— The Independent

Two men jailed after traffic police catch them driving at about 180kmh on CTE
Two men who were driving at double the speed limit on the Central Expressway (CTE) last year were each sentenced to two weeks’ jail on Wednesday (May 22) and banned from driving for four years.
— Channel NewsAsia (very annoying popups)

3 men jailed for smuggling chewing tobacco into Singapore using Malaysian-registered vehicles
Three men have been jailed for their roles in smuggling more than 25,000 sachets of chewing tobacco from Malaysia into Singapore, the Health Sciences Authority (HSA) said in a press release on Wednesday (May 22).
— Channel NewsAsia (very annoying popups)

KF Seetoh posts photos of empty Shake Shack and A&W at Jewel Changi, writes, “Joo Chiat more happening than Jewel”
Has the Jewel lost its shine so quickly? In a country where lining up in queues for popular establishments is a national pastime, food maven and Makansutra Founder KF Seetoh showed photos on his Facebook account of how seemingly empty the much-ballyhooed fast-food restaurants Shake …
— The Independent

Money for ‘Lee Kuan Yew’ cheating trial: Ex-reporter takes stand, grilled on whether he spoke to accused
A reporter who wrote an article four years ago about a woman who allegedly cheated a petrol station pump attendant of his savings took the stand on Wednesday (May 22) and was accused of never interviewing the woman.
— Channel NewsAsia (very annoying popups)

24 game-changers in Echelon Asia Summit 2019’s final batch of exhibitors
These 24 companies are out to disrupt Asia’s tech ecosystem — go see them in action at Echelon Asia Summit 2019! There are lots of great reasons for you to come to Echelon Asia Summit 2019! With more than 12,000 people attending from over 30 countries, the Echelon Asia Summit brings together a …
— e27

7 arrested over illegal sale of marine gas oil in waters near Jurong Island
SINGAPORE: Seven men aged between 20 and 48 were arrested on Tuesday (May 21) over an illegal transaction of marine gas oil in the waters off Benoi Basin near Jurong Island, police said.
— Channel NewsAsia (very annoying popups)

Initiatives launched to help Home Team work together, says Josephine Teo
Coming from a family of four generations of civil servants, it felt only natural for Senior Assistant Commissioner of Police (SAC) Arul David Scott to join the police force after he graduated from university.
— Straits Times (annoying popups)

Singapore ideal for Nordic start-ups: Swedish prince
Singapore is an ideal base for Nordic start-ups to explore the region, said Prince Daniel, a member of Sweden’s royal family.
— Straits Times (annoying popups)

Furniture retailer eyes silver lining amid challenges
The global prices of furniture are set to rise in the short term, said business owner Ernie Koh, but he is sanguine. He feels that the escalating trade war between the United States and China may be causing anxiety among businesses, but it also offers fresh opportunities.
— Straits Times (annoying popups)

Insurance package to cover three generations in one policy
A new insurance policy that aims to break new ground by covering three generations of a family is being launched on Thursday (May 23).
— Straits Times (annoying popups)

3 in 4 Singapore football fans plan their holidays around sporting events: Expedia poll
OUT of 500 Singapore football fans surveyed, 76 per cent have planned holidays around sporting events, and nearly half (46 per cent) admitted to changing travel plans to ensure that they don’t miss a football match.
— The Business Times

Want to Grow Your Dividends? This Company Looks Set to Increase its Payout
Boustead Singapore (SGX: F9D) has been suffering from a cyclical downturn but it’s turning it around and looks set to increase its dividend. Here’s why.
— The Motley Fool


Feature photo Nutrinest

This week’s Singapore morning news feature photo acknowledges World Bee Day, May 20. 


Find our previous morning news feature photos in the AEC News Today Morning News Feature Photos gallery where you will find a pictorial display of daily life throughout the Asean Economic Community (AEC).

Singapore morning news by AEC News Today is your one stop source for Singapore news on matters of governance and policies affecting Asean business communities. It is published M-F by AEC News Today: Governance, not government; policies not politics.


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John Le Fevre

Thailand editor at AEC News Today

John is an Australian national with more than 40 years experience as a journalist, photographer, videographer, and copy editor.

He has spent extensive periods of time working in Africa and throughout Southeast Asia, with stints in the Middle East, the USA, and England.

He has covered major world events including Operation Desert Shield/ Storm, the 1991 pillage in Zaire, the 1994 Rwanda genocide, the 1999 East Timor independence unrest, the 2004 Asian tsunami, and the 2009, 2010, and 2014 Bangkok political protests.

In 1995 he was a Walkley Award finalist, the highest awards in Australian journalism, for his coverage of the 1995 Zaire (now Democratic Republic of Congo) Ebola outbreak.

Prior to AEC News Today he was the deputy editor and Thailand and Greater Mekong Sub-region editor for The Establishment Post, predecessor of Asean Today.

In the mid-80s and early 90s he owned JLF Promotions, the largest above and below the line marketing and PR firm servicing the high-technology industry in Australia. It was sold in 1995.

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